If the current economic climate has made you worry about employment and income, you're not alone. Many people have considered freelancing to stay afloat. To thrive as a self-employed person in Singapore, it is crucial to understand the CPF contribution schemes available to those in the gig economy.

Here are 4 suggestions that you can consider to bolster your mother’s retirement plans, through some simple CPF transfers made online.

What are the different returns that CPF SA can give us? Understand your choices.

You can use your CPF Ordinary Account (OA) savings to buy a new or resale HDB flat, or private residential property. However, the government has put in place certain limits on using CPF savings for housing to ensure you will have sufficient savings to meet your retirement needs.

The ultimate questions we must answer are: When we stop working and enter retirement, do we have enough saved to live a quality of life that we desire into our old age? Will we be able to provide for our loved ones and not worry about whether we will outlive your savings?

There is an upside to living in a Nanny State: Singaporeans are one of the best prepared for retirement in the world. All Singaporeans and Permanent Residents are forced to save a part of their earnings in the Central Provident Fund (CPF).